Top Mortgage Solutions
Reviews and Ratings for Financial adviser Simon Rushbrooke, Southampton

Shared Ownership

Mortgage & Protection Advice
shared ownership

Shared ownership mortgage schemes are a Government incentive backed up by developers and housing associations in order to provide high quality affordable housing for first time buyers and other key workers.

How do shared ownership mortgages work?

The shared ownership mortgage scheme works by property buyers ‘sharing’ the ownership of the property. On the initial purchase you will typically buy 25/50/75% of the total property value. The remaining 75/50/25% of the property is owned jointly, usually with a housing association. They charge you a ‘rent’ for the section you do not own.

What are the benefits of a shared ownership mortgage?

The main benefit of getting a shared ownership mortgage is that you get a foothold on the housing ladder and benefit from the increase to the value of your ‘share’.

Also these schemes are unique in that you can ‘staircase’ up your ownership of the property; meaning you have the ability to buy additional sections of the property at a later date. Therefore you can start off by buying 50% of the property initially, then in 2 years buy another 25% and finally the last 25% so you own the entire property. This saves you the cost of having to ‘size up’ during your working life. As you increase your ownership of the property your rent decreases to reflect the increased ownership.

How can Top Mortgage Solutions help with Shared Ownership mortgages?

Conditions vary from scheme to scheme so make sure you are happy with the terms you sign up to at the start. We can help you with this.

As shared-ownership is a niche mortgage sector not all mortgage lenders are willing to lend on these developments so our advisors at Top Mortgage Solutions will find the most suitable mortgage lender personally selected from a comprehensive range of Shared Ownership mortgage lenders.

Mortgage Advice

Z Access to exclusive mortgage interest rates

Z Access to more than just High Street lenders

Z Self-Employed products available

Z Bad Credit considered

Z Solutions for Buy to Let or Let to Buy

Z Access to Secured Loans

Z Access to Bridging finance

Z Access to Commercial Mortgages

We always aim to provide a high quality service to our customers. However, if you encounter any problems and we are unable to resolve them you can take your complaint to an independent Ombudsman. Our advice is covered under the Financial Ombudsman Service (www.http://www.financial-ombudsman.org.uk/consumer/complaints.htm). You may be able to submit a claim through the EU Online Dispute Resolution Platform (https://webgate.ec.europa.eu/odr/main/?event=main.home.show if you live outside the United Kingdom or if you prefer not to deal directly with the Financial Ombudsman Service.)”